Corporate Presentation Andrew Mortimer, Managing Director “Reopening Australia’s first iron ore mine and forging a new technical pathway for nickel production” 1 May 2012
Disclaimer Important Notice: This document is not a disclosure document nor does it constitute the provision of financial product advice. No representation or warranty is made as to the accuracy, completeness or reliability of the information. The information is provided expressly on the basis that recipients will carry out their own independent inquiries into the matters contained herein and make their own independent decisions about the affairs, financial position or prospects of the Company which reserves the right to update, amend or supplement any information at any time in its absolute discretion. Furthermore some of the information in this report relates to future events or future business and financial performance. Such statements constitute forward-looking information within the meaning of the Private Securities Litigation Act of 1995. Such statements can be only predictions and the actual events or results may differ from those discussed due to, among other things, risks described in “Proto Resources & Investments Ltd” company reports. Competent Person’s Statement: The information in this report that relates to Exploration Results is based on information reviewed by Mr Peter Peebles, who is a Member of the Australasian Institute of Mining & Metallurgy. Mr Peebles is a full- time employee of Darlington Geological Services Pty Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Peebles consents to the inclusion in of the report of the matters based on his information in the form and context in which it appears on those slides. 2 May 2012
Value Proposition FLAGSHIP BARNES HILL PROJECT DFS due by July 2012 with 500,000t/pa • throughput resulting in ~47% IRR Targeting iron ore production by the end of 2012 • prior to nickel-cobalt production in 2013 EXPLORATION Assays pending on recent Lindeman’s Bore • gold-copper campaign in the Northern Territory Magnetic iron ore on the surface at Barnes Hill (above and below) TECHNOLOGY Piloting of the innovative processing technology, • housed within the majority-owned technology company Barrier Bay, due for completion in August this year ready for demonstration-scale facility. 3 May 2012
Investment Highlights ISSUED CAPITAL 517m fully paid ordinary shares (ASX: PRW • ~37% held by Frankfurt Exchange investors) 279m options expiring @ 5 cents on 1 • September 2014 52m options expiring @ 25 cents on 31 • December 2013 The Frankfurt Stock Exchange (above) provides solid liquidity to Proto shares FINANCIAL POSITION Zero net debt • Full-funding partner for Barnes Hill • Project Current stock price A$0.021 (23/04/12) • Current market capitalisation A$10.8m • Cash at bank A$800k • Liquid financial assets A$1.85m • 4 May 2012
Directors and Management Proto is led by a team of experienced executives each drawing on their relevant skill sets from a diverse range of backgrounds . DIRECTORS Ian Campbell, Non-Executive Chairman (ex Australian Federal Environment Minister) • Andrew Mortimer, Managing Director (lawyer, mining executive) • Greg Melick, Executive Director (SC, ex Tasmanian Crown Prosecutor, Major General, • Head of Australian Defence Reserves) Lia Darby, Non-Executive Director (lawyer, mining executive) • Kay Philip, Non-Executive Director (geophysicist, company director) • MANAGEMENT AND SENIOR CONSULTANTS Ashley Hood, Chief Operating Officer (ex Anglo Gold Ashanti) • Pierre Richard, Chief Development Officer (ex Mallesons, Macquarie Bank) • Carl Swensson, Consulting Geologist (Swensson Resource Management Pty Ltd, ex • Normandy) Dan Hampton, Project Manager • Hugh Minson, Business & Technology Development Manager • 5 May 2012
The Global Nickel Industry Nickel is extremely hard, non-corrosive and has a high melting point • Nickel is present in over 3,000 different alloys that are used in more than • 250,000 end-use applications. 40% percent of annual use is in: super alloys to withstand high temperatures and/or pressures or • have high electrical conductivity; and nonferrous alloys • Uses include: • the production of coins, in jet engines, as a catalyst for certain • chemical reactions and in rechargeable batteries • US$30 billion plus industry • Nickel bearing deposits come in two types: Sulphide Laterite Reserves 40% 60% Production 58% 42% Nickel stainless steel was pioneered with the Chrysler Building in 1930 6 May 2012
Barnes Hill Tasmanian Nickel-Cobalt Resource 7 May 2012
Barnes Hill Strategy Iron Ore Operation 500ktpa nickel operation using IX technology 500ktpa nickel operation using IX & Barrier Bay technology 8 May 2012
Barnes Hill, Tasmania • JORC reserve of 6.6Mt at 0.82% Ni and 0.06% Co at a 0.5% Ni cut-off (5.6Mt of indicated resources) �������� • Mine life of ~15 years at 500,000t p.a. • 50:50 development JV with Metals Finance Limited • Superb infrastructure just 40km from Launceston and 15km from deep water port of Bell Bay • Metals Finance feasibility study due in less than 90 days (by Q3 2012) • Feasibility study and metallurgy showing low acid consumption ore • Targeting iron ore operation by end of 2012 • Proto largest shareholder in Metals Finance with 14.2% held 9 May 2012
Barnes Hill - Finance • $98m estimated CAPEX for the project (DFS due by July) • Equity to come from Joint Venture Partner, Metals Finance Ltd • Project equipment (machinery) and debt finance to come from Caterpillar • Project equipment (IX technology) finance to come from Dow Chemical • Currently working on off-take finance 10 May 2012
Project Layout 11 May 2012
Mine Layout and the Environment • All environmental impacts have been minimised. - Key plant populations will be totally avoided or maintained - No active dens of Spotted-tailed quoll or Tasmanian devil, and no masked owls • Processing all placed furthest from residents and outside nature reserves • Comprehensive package of offsets through proposed purchase 105 ha private land to support 87 ha of native habitat 12 May 2012
DPEMP and Development Progress • Proto has completed and lodged its Development Proposal and Environmental Management Plan for permitting approval. This follows from the granting of the Barnes Hill Mining Lease in June. The DPEMP: - Addresses the Guidelines established by the Tasmanian Environment Protection Authority (EPA) based on Proto’s earlier Notice of Intent (NOI) Barnes Hill is just 15km from the - Details the environmental work completed with extensive deepwater port of Bell Bay (above) studies showing no material presence of fauna, and minimal flora impacts. Heritage surveys also completed with “green-light” results • Mining will involve ore extraction from surface pits, ore preparation and nickel extraction using vat leaching to produce a dilute 8g/L sulphuric acid solution. • The process flowsheet has been designed and tested, and the initial engineering design completed. • The Barrier Bay technology will improve reagent recovery and lower the environmental footprint, however, Barnes Hill is not dependent on the technology to be economically viable. 13 May 2012
Exploration Projects WA and NT 14 May 2012
Project Activity Development • ������ - Barnes Hill �������� - Kiefernberg (Germany) "�����$ ��������������� ����������� ������ ������ ��������������� ���� Northern Territory Exploration ���������������� • ���������� - ��������� ������������ Lindeman’s Bore JV - Wave Hill W E S T E R N N O R T H E R N Q U E E N S L A N D ��!#��$%��� A U S T R A L I A T E R R I T O R Y - Waterloo JV ���������� �������� ����������������� �������� Western Australia Exploration S O U T H • &�������� A U S T R A L I A - Clara Hill ��� ������ ���#������� ������� ���� - ����� N E W S O U T H Doolgunna Projects ���!����� W A L ES �������� ������ - Argyle Corridor "����� �� �������� - Ord Basin East V I C T O R I A ��������� - Waite Kauri North 0 500 1000 km �������������� ���������������� T A S M A N I A ������ 15 May 2012
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